Venezuela to open a crypto casino to push Petro adoption

The proceeds from the casino will be used to fund the country’s public health and education sector.
Further details, including the name of the casino, date of opening and any other operational information, were not disclosed.

Rajarshi Mitra Independent Analyst

The president of Venezuela, Nicolas Maduro, recently announced Ávila National Park’s Hotel Humboldt will soon have a casino that can be operated with its state cryptocurrency Petro (PTR). The proceeds will be used to fund Venezuela’s education sector and public health.

Less than a decade ago, Maduro’s mentor, former president Hugo Chavez had ordered to shut down all the betting places as harbors of prostitution, drugs and crime. Since then, only a few online platforms have let the Venezuelan citizens gamble.

Further details, including the name of the casino, date of opening and whether or not if the guests must use the Petroapp were not disclosed. One is to wait and see if a country that's long-suffering from an economic meltdown will benefit for the crypto casino or not.

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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